Newfoundland and Labrador · CCAA
Monitor's Twelfth Report dated November 10, 2025.pdf
Court officer report · 10 November 2025
A plain-language read of this filing opens with a subscription.
What we verified from this filing2 verified
- fee scheduleengagements: form: prose · rows: · money: approximate: false · period: end: 2025-10-31 · kind: cumulative · quote: The Monitor incurred 1,566.75 hours through October 31, 2025, at an average rate of approximately $451.39/hour. · approval: state: unstated · averages: rate: 451.39 · quote: at an average rate of approximately $451.39/hour · currency: · invoices: · firm text: Grant Thornton Limited · firm quote: TWELFTH REPORT OF GRANT THORNTON LIMITED, IN ITS CAPACITY AS MONITOR OF KARWOOD ESTATES INC. AND GREGG CONSTRUCTION LIMITED · hours total: quote: The Monitor incurred 1,566.75 hours through October 31, 2025, at an average rate of approximately $451.39/hour. · value: 1566.75 · context quote: IN ITS CAPACITY AS MONITOR OF KARWOOD ESTATES INC. AND GREGG CONSTRUCTION LIMITED; form: prose · rows: · money: approximate: false · period: kind: unstated · approval: state: unstated · averages: rate: 605.89 · quote: at an average hourly rate of $605.89 (exclusive of HST) · currency: · invoices: · firm text: RECON · firm quote: RECON incurred a total of 307.9 hours, at an average hourly rate of $605.89 (exclusive of HST). · hours total: quote: RECON incurred a total of 307.9 hours, at an average hourly rate of $605.89 (exclusive of HST). · value: 307.9 · context quote: RECON incurred a total of 307.9 hours, at an average hourly rate of $605.89 (exclusive of HST).
- recovery outcomeentries: basis: unstated · quote: the Monitor notes that the proceeds available will not be sufficient to repay the secured creditors in their entirety, resulting in no distribution being available to the Companies' unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: Although the GCL Transaction through an RVO does not result in a distribution to unsecured creditors, the Monitor notes that a traditional approval and vesting order would not result in a different outcome given the balance owing to GCL's secured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: unsecured creditors (GCL) · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: The proposed RVO would direct the Monitor to provide an interim distribution of the Purchase Price under the GCL Transaction to BMO pursuant to its security, subject to confirmation of its first ranking security position by an independent security review, and subject to the Distribution Holdback. · pct of: unstated · outcome: distribution · class key: secured · stated by: monitor · class label: BMO · creditor name: BMO · interim final: interim · conditional on: subject to confirmation of BMO's first ranking security position by an independent security review, and subject to the Distribution Holdback · claims qualifier: unstated · stated on: 2025-11-10 · table missing: